$JSEANGJSE:ANG
After strong move higher consolidating in small falling wedge.
Break above wedge will probably target area around R20000
HT3 trade ideas
Taking a position on AU as the market was in a correction phaseAfter researching the trend of AU on 10.10.18, one of my worst days as a novice and new trader, this stock hit my radar. I followed it early on 10.11.18 just to be sure that it would break thru the resistance line set up over the last 20 days or so, and then jumped on at 9.37
With a price so low, most traders with any type of bankroll can get their hands on this.
I am not looking at some huge gains on the chart, but rather stocking up and allowing just a few pips to get it done in a matter before Halloween and Thanksgiving.
Using the trend lines I placed on the chart, here are my targets:
Target 1: $10.40
Target 2: $11.75
Would love to hear your thoughts.
JSE Gold Stock ComparisonGold stocks have been a leading sector in the Resources Sector. Currently, there has been some climactic action and I am expecting some consolidation. However, once the consolidation has completed which stock to take positions in on the next swing. Comparing the relative strength of ANG, SGL, HAR and GFI we see that ANG is the leader of the pack. GFI has also been strong in the latter part of 2018 but has some weakness in the background.
AU Ready to Trade???This is my first chart. Exciting times. I was looking for a vehicle to trade into 2019. Ran across a few set-ups in the making, AU being one of them, the rest will be posted over the next few days.
Here is the set up:
PRICE ACTION
Broke through a strong S/R Level ($12.37), set over multiple periods of time on the Monthly. On more than one occasion from 1983-1996 this was the proverbial glass ceiling. Then a Massive Gap (split, stock dividend???) something gaped this baby back in 1998 and for many years AU traded nicely above 12.37, Only to retest this level in 2000, 2008, 2013. Also to note is the S/R Level (18.07).
I have two highlighted areas of action during the past five years (2013-2014) & (2016-2017) where price movements shows a general favor to channeling High/Lows between 18.07 and 12.37. RSI and Oscillator indicate a good probability of upward momentum.
EXPECTED ENTRY/EXIT: 13.00/18.00
TIME FRAME: 4-6 months
TYPE of TRADE: Channel Trade with a chance for multiple round trips between 13.00/18.00
JSE:ANG AngloGold Breakout and TestAngloGold has been in a very week down and has developed a base.
We see the following volume signature:
- a high volume Selling Climax (SC),
- a Spring with Signs of Strength in the uptrend,
- a high volume test,
- followed by a low volume test indicating supply has dried up,
- negative divergence with OBV and price at the spring and low volume test as confirmation,
- then the markup in Phase D started, and
- the backup to the trading range.
After this action the expectation is for the Markup in Phase E to start. Looking for the first area of resistance to be at the Yearly Pivot.
AU - AngloGold Ashanti Limited -By Abdolreza SadreddiniThe AngloGold Ashanti Limited (AU), Has good fundamental statistics ceriteria. about 4B market cap and over 3m Avg Volum, in addition of negetive "BETA" make this instrument very special for the time while most of the US and Global indecies carshing, AU going UP.
When the first daily candel closes above Fourth EW wave, please set up a buy stop on top of that for long rally, to reach to top of Thid major EW wave.
Technical Analysis by Abdolreza Sadreddini
Bullish Gold Futures = Mining Companies (#5 AU)In this example I only have a tested support at a level of 9.20 without be too precise and is relevant because this level was tested during a period of one year and now the price is showing other direction and it's breaking a recognizable resistance level around 10.50 there are another key resistance level in the 12.40 more or less the more I wait for confirmed resistance line breakout with pullback included the more the price moves away of the today price the more expensive the shares become this is always a dilemma in this activity because if you wait for a better evidence with more weeks, for confirm the intention and direction of the price when the decision is made, it will be more expensive.
I share basic material companies in the mining sector because there are a frenzy of broken resistance lines some are more advanced and other looks lagging but the sector is going up and I follow more than 100 mining companies and Industrial metals and the the majority are very bullish personally I like low priced shares but that does not make them penny stocks all the companies I shared and published are listed they are small cap or mid cap and has a story of more than 30 years in the stock market.
Theory say: find a strong sector and buy. I shared several and the objective is to choose some according to the budget of the client
weeks ago I shared others mining companies and the ideas are working the price is breaking key resistance levels
remember I'm not publish a stock symbol twice.
Not all my ideas work for that is diversification and stop loss
AU - DailyI'd like to see AngloGold hold 9.63 for (2). Was close enough and in the target region so I added some the other day. Targets are projected based on 10.45 low; subject to slight modification. Below 9.63 the pattern is still valid but I'd want to see an initial 5-wave impulse up to add confidence.
